Following are the day’s biggest winners and losers. Find out why shares of Hyatt Hotels and Weyerhaeuser popped while Barclays dropped.
POPS (stocks that jumped higher)
Weyerhaeuser (WY) popped 1%. The forest paper goods company higher as it announces plans to convert to a real estate investment trust next year in order to cut the company’s tax rate to zero from 35%. The change to REIT status pushed this company higher, says Gary Kaminsky.
Hyatt Hotels (H) popped 2%. The hotel higher as Abu Dhabi buys a 10.9% stake in the name and Goldman Sachs initiates the company at a 'buy', while JPMorgan starts it at 'overweight,' and 'buy' ratings from Citi and Deutsche. This is a stock that can go higher from here, but I wouldn't personally chase it, says Guy Adami.
A pop for HMOs. HMOs higher again as the WSJ reports Senate Democrats have dropped expansion of Medicare in the health care bill. It's on again, it's off again, you can't play this sector, says Tim Seymour.
Nat Gas ETF (UNG) popped 3%. Nat gas fund higher as the commodity climbs today. Exxon's aquisition of XTO is a game-changer for the next 3-5 years, says Joe Terranova.
DROPS (stocks that slid lower)
Barclays (BCS) dropped 4%. The British bank retreats as investor confidence falls and wholesale prices increased more than anticipated. We've seen selloffs for European banks that have exposure to Eastern Europe and the Middle East, says Tim Seymour.
______________________________________________________ For Tim Seymour
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